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May 17, 2012
05/12
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struggling to pull the state back from the brink of a $16 billion deficit. phil matier shows us that is not the only trouble is facing right now. >> that is right. for the past couple of days we have been focusing on sacramento but here's what the voters have to sit back to them. >> on the wrong track. >> that was the opinion out of three out of four voters in a statewide poll. and from the looks of things, the governor jerry brown is feeling the pain. with a 21 point drop in his approval rating in the past three months. >> what you think of the performance of jerry brown? >> he has done some good but
struggling to pull the state back from the brink of a $16 billion deficit. phil matier shows us that is not the only trouble is facing right now. >> that is right. for the past couple of days we have been focusing on sacramento but here's what the voters have to sit back to them. >> on the wrong track. >> that was the opinion out of three out of four voters in a statewide poll. and from the looks of things, the governor jerry brown is feeling the pain. with a 21 point drop in...
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Jun 6, 2012
06/12
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. >> we have a $16 billion deficit and they're trying to wall off some more money. not a penny goes to education. not a penny goes to the social welfare programs in the state. >> reporter: health researchers here tell us if this tax does pass they expect the number of smokers in california to drop from 12% to 8% and that alone could cost the tobacco companies about a billion dollars so, scott, that's a big part of why they're fighting so hard to defeat this. >> pelley: ben, thanks very much. this is the moment that astronomers have been waiting for, the transit of venus is happening right now and it won't happen again for 105 years. these pictures of the sun are from a telescope in hawaii and you can see that dot on the upper right-hand side. that is venus which is passing between the earth and the sun. weather permitting, folks all over north america can watch venus travel from right to left but, of course, be warned, you can't look directly at the sun, it will damage your eyes. we have a dazzling view of the final day of celebration for the queen's jubilee. that's
. >> we have a $16 billion deficit and they're trying to wall off some more money. not a penny goes to education. not a penny goes to the social welfare programs in the state. >> reporter: health researchers here tell us if this tax does pass they expect the number of smokers in california to drop from 12% to 8% and that alone could cost the tobacco companies about a billion dollars so, scott, that's a big part of why they're fighting so hard to defeat this. >> pelley: ben,...
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186
Nov 10, 2012
11/12
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and job one is trying to work out a deal with republicans who control the house to cut the federal deficit by the end of the year to avoid that so-called fiscal cliff. >> i want to be clear: i'm not wedded to every detail of my plan. i'm open to compromise. i'm open to new ideas. omm committed to solving our fiscal challenges. but i refuse to accept any approach that isn't balanced. i'm not going to ask students and seniors and middle-class emilies to pay down the entire hificit while people like me making over $250,000 aren't $250d to pay a dime more in imxes. (applause) i'm not going to do that. >> pelley: that fiscal cliff we mentioned is the package of dharp tax increases and huge across-the-board spending cuts that will go into effect automatically january 1 unless there is a deal to cut the deficit. wyatt andrews has the latest on that tonight. wyatt? >> reporter: scott, the speaker today flat out rejected the president's demand for higher tax rates on the wealthy. the speaker said "those higher tax rates would slow down the economy and our ability to create jobs." but, scott, there
and job one is trying to work out a deal with republicans who control the house to cut the federal deficit by the end of the year to avoid that so-called fiscal cliff. >> i want to be clear: i'm not wedded to every detail of my plan. i'm open to compromise. i'm open to new ideas. omm committed to solving our fiscal challenges. but i refuse to accept any approach that isn't balanced. i'm not going to ask students and seniors and middle-class emilies to pay down the entire hificit while...
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Dec 5, 2012
12/12
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.% to 6.2%, that's $115 billion a year that will go to deficit reduction instead of being pumped into the economy. heidi cherholts is an economist. >> it's less money for consumers to spend that means the demand for goods and services will drop. who provides goods and services? workers. so employment will fall. >> reporter: those in favor of allowing the tax cut to expire argue money for social security payments has to come from somewhere. with although mejia says that somewhere will mean doing without some of the basics. >> might be a pair of sneakers. might be that jacket that they want to go to school with in the winter. might be those pair of boots that they want to go and keep warm. >> reporter: for john mejia, the debate in washington is not about the federal budget it's about his family's. jim axelrod, cbs news, west new york, new jersey. >> pelley: well, a lot of families with tight budgets will be happy to hear this next story: the housing market is coming back. we got a report today that says home prices in october had their biggest gain in six years. up more than 6%. sales
.% to 6.2%, that's $115 billion a year that will go to deficit reduction instead of being pumped into the economy. heidi cherholts is an economist. >> it's less money for consumers to spend that means the demand for goods and services will drop. who provides goods and services? workers. so employment will fall. >> reporter: those in favor of allowing the tax cut to expire argue money for social security payments has to come from somewhere. with although mejia says that somewhere...
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May 15, 2012
05/12
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. >> reporter: today governor jerry brown said the state's budget deficit jumped from $9 billion to $16 billion, largely because tax revenues have been much lower than expected. the unemployment rate here is still 11%. >> there has to be a balance and day of reckoning. this is the type of day of reckoning and we've got to take the medicine. >> reporter: so the governor announced $4 billion in new cuts, including a 5% pay cut for state workers. he wants to shrink their work week to four nine and a half hour days to save on building operating costs. payments to those who care for the disabled would be cut and the university system would lose another $38 billion. brown even asked reporters for their ideas. >> if one of you guys can think of something better, i'll be glad to... i'll read your story tomorrow and if it passes the smell test, we might even incorporate it. >> reporter: governor brown says taxes must be raised. he wants a sales tax increase of a quarter of a cent and higher income taxes on people making more than $250,000. by california law, voters will decide whether to approve
. >> reporter: today governor jerry brown said the state's budget deficit jumped from $9 billion to $16 billion, largely because tax revenues have been much lower than expected. the unemployment rate here is still 11%. >> there has to be a balance and day of reckoning. this is the type of day of reckoning and we've got to take the medicine. >> reporter: so the governor announced $4 billion in new cuts, including a 5% pay cut for state workers. he wants to shrink their work...
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Jan 6, 2012
01/12
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but joint chiefs chairman dempsey said sticking with the current strategy and the resulting budget deficit would be even riskier. the president pointed out that even with the cuts the u.s. will still spend more on defense than ave next ten countries combined. >> reporter: david, thanks very much. one place the defense budget is increasing is in computer terfare. back in 2010, the pentagon established cyber command to wage war and defend america's computer systems. it's a top priority for the secretary of defense. we asked secretary panetta about that in an interview for "60 minutes." he was touring the middle east last month traveling on his flying commandflat's rigged to conduct nuclear war if need be. but the secretary told us cyber hir is one of his biggest >>rries. >> the reality is that there is the cyber capability to basically bring down our power grid, to create... to paralyze our financial system in this country, to virtually paralyze our country. and i think we have to be prepared not only to defend against that kind of attack, but if necessary we are going to have to be prepared
but joint chiefs chairman dempsey said sticking with the current strategy and the resulting budget deficit would be even riskier. the president pointed out that even with the cuts the u.s. will still spend more on defense than ave next ten countries combined. >> reporter: david, thanks very much. one place the defense budget is increasing is in computer terfare. back in 2010, the pentagon established cyber command to wage war and defend america's computer systems. it's a top priority for...
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Jun 2, 2012
06/12
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. >> reporter: walker's supporters cheer his fiscal policies that have turned a state deficit into a surplus. and they've given him a boatload of donations. his campaign has outspent barrett's 10-1. >> we know that scott walker has become the rock star of the far right. ( crowd boos ) he is the poster boy of the tea party. >> reporter: all told, $64 million have been spent on this race-- a wisconsin record. nearly half of the money has come from out of state, and here's why. republicans believe a victory on tuesday will be a harbinger for the general election, putting wisconsin in play in november and forcing president obama to battle for a state he won by 14 points four years ago. and the democrats are worried they're right. almost all of the polls show walker ahead, scott, but not comfortably so, meaning that whoever has the best get out the vote effort on tuesday will probably win. >> pelley: dean, thanks very much. mitt romney discloses his net worth and how he earned some of it. american nuns fight back after harsh criticism from the vatican. and a wildfire burns its way into th
. >> reporter: walker's supporters cheer his fiscal policies that have turned a state deficit into a surplus. and they've given him a boatload of donations. his campaign has outspent barrett's 10-1. >> we know that scott walker has become the rock star of the far right. ( crowd boos ) he is the poster boy of the tea party. >> reporter: all told, $64 million have been spent on this race-- a wisconsin record. nearly half of the money has come from out of state, and here's why....
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Nov 6, 2012
11/12
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mitt romney worked four swing states today as well to try to make up for those paper-thin deficits. jan crawford has been with him at every stop and, jan, where are you now? >> reporter: well, scott we're here at columbus,, ohio. over the weekend i was talking with one of his senior advisors and i said "what do you have planned in these final days?" hd he had a one-word answer and e said "praying." he laughed and said it with a smile but it reflected the underlying tension and uncertain aiy a race that could not be any closer. >> if you believe we can do better and if you believe america should be on a better course and if you're tired of being tired then i ask you to vote and work for real change. h theporter: with the campaign in its final hours, romney's hitting four tossup states today fter a weekend of crisscrossing ountrountry as he tries to close t ththe race with the win. >> this is much more than our moment, it's america's moment of s momen and purpose and optimism and we've journeyed far and wide greats great campaign for ica'sca's future and now we're almost home. one fin
mitt romney worked four swing states today as well to try to make up for those paper-thin deficits. jan crawford has been with him at every stop and, jan, where are you now? >> reporter: well, scott we're here at columbus,, ohio. over the weekend i was talking with one of his senior advisors and i said "what do you have planned in these final days?" hd he had a one-word answer and e said "praying." he laughed and said it with a smile but it reflected the underlying...